CARLSBAD — The repercussions of the COVID-19 pandemic is being felt the world over.
In the U.S., the federal government and states are rapidly trying to find economic solutions for workers and businesses alike. Small businesses across the country are operating with significantly reduced workforces and have either temporarily suspended services or closed altogether.
During its March 24 meeting, the Carlsbad City Council responded to the financial crisis by creating an ad hoc committee to look into a potential economic stimulus or revitalization package to address the growing financial insecurity among small business owners in the city.
The city’s decision comes after the U.S. Small Business Administration recently started offering 30-year loans up to $2 million with 3.75% interest rates for small business owners impacted by the COVID-19 pandemic.
Mayor Matt Hall suggested the ad hoc community work with the Carlsbad Chamber of Commerce and Carlsbad Village Association, the two leading business-centric organizations in the city.
“We need to work with our business community right now to get everybody back on board. An ad hoc committee would be a brilliant idea to do that,” Councilwoman Cori Schumacher said.
“I’m glad we’ll be doing that,” Councilwoman Priya Bhat-Patel added. “I’ve been in touch with the chamber, CVA and a number of businesses.”
Details of the plan, though, are scarce as the council will not meet until April 7. City Manager Scott Chadwick and others are working on what those details may entail, according to Kristina Ray, the city’s director of communications.
She said staff will bring back a number of options for the council to consider. More details, Ray said, will be released April 2-3 with the April 7 agenda.
“I know staff has been working to give the council some options and working various departments to give the council a range of options they can consider,” she said.
Ray added the effects of the public health emergency have different effects on people and the city’s response is to help address some of those concerns.
She said since pandemic reached Carlsbad, the city has been in contact with businesses to provide resources, along with the CVA and chamber.
“We’ve also created the restaurant map so people can see where places are open and patronize those places,” Ray said.
In San Diego County, cities — including San Diego, San Marcos and Vista — are considering similar proposals to boost their respective economies by easing the burden on local store owners.
In San Marcos, the city has put forward a $3 million small business stimulus package, according to Mayor Rebecca Jones. Also, the City of San Diego has $6.1 million for its Small Business Relief Fund, according to the city’s website.
In Vista, the City Council will the Economic Development Department is starting its Vista Economic Development Strategy (VEDS) Committee early to also serve as the Economic Recovery Taskforce, according to Andrea McCullough, the city’s communications director. “They’ll be meeting in a few weeks,” she added. “The city is reviewing business strategies at this time and we should have more information next week.”
